More bad news for Ill. economy: poor job growth, high taxes - FOX 29 News Philadelphia | WTXF-TV

More bad news for Ill. economy: lowest job growth, highest property tax

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CHICAGO (FOX 32 News) -

A new national study predicts Illinois will have the worst job growth of all the states.

It's a figure that sheds light on our state and city at the tipping point.

As of now, the study is predicting Illinois to be dead last, 50th out of 50 states.

The new study from Moody's Analytics says Illinois will be the only state in the country where the total number of jobs will grow by less than one percent. The study comes on the heels of another study that business groups say explains the job forecast.

Now, except for New Jersey, Illinois has America's highest property tax burden.

Home prices in many parts of Illinois remain far below where they once were.

But that hasn't stopped government officials from raising property tax bills.

As a result, with the exception of only New Jersey, Illinois now has the highest property taxes in America when considered as a percentage of home value.

According to the Urban Institute-Brookings Tax Policy Center in 2012, Illinoisans paid property taxes of 2.28 percent of their home's value, marginally more than neighboring Wisconsin's 2.07 percent; and 2 1/2 times the 0.93 percent property owners paid in neighboring Indiana.

Business groups claim Illinois' soaring property tax burden is a big reason the state has 600,000 fewer jobs now than it had 14 years ago.

A new employment forecast has more bad news, predicting that Illinois in 2014 will have the worst rate of job growth of any state – 0.98 percent, which would add 56,996 jobs.

Indiana would rank 25th, growing 1.6 percent, adding 47,055 jobs, and Wisconsin, ranking 32nd, growing 1.49 percent would add 42,022 jobs.

One of the nation's largest moving companies, Allied Van Lines, reported, "Illinois usurped the title of top outbound state with the highest net relocation losses (more outbound than inbound shipments), followed by Pennsylvania, Michigan, New Jersey and New York... Illinois lost ground this year, with a net loss of 1,198 moves out of state, versus 2010 losses of 1,050."

We asked Gov. Quinn's spokeswoman for a response.

A state website does not elaborate on why Illinois has high unemployment.

Ignoring the fact that joblessness was often very low here until recent years, the Illinois Department of Employment Security says, "Historically, Illinois has a higher unemployment rate than the nation. Only six times since January 2000 - six months out of 168 - has the state unemployment rate been lower than the nation's. That includes times of economic growth."

Curious they would choose the base year to be 2000, when Illinois had 600,000 more jobs than we do now.

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